QTS Raises $100M to Fund Data Center Construction

Data center service provider QTS Realty Trust has expanded its credit facility by $100 million, money the company said will help it fund data center construction around the U.S.

QTS is expanding capacity at its already operating sites in Atlanta, Dallas, New Jersey, Northern Virginia, Silicon Valley, and Sacramento, California. It also recently bought a former newspaper printing plant in Chicago it plans to convert into a data center – its first in that market.

Access to new capital brings the company’s total unsecured credit facility to $650 million. New credit facility has an accordion feature that enables the company to expand it by up to $200 million with additional commitments.

KeyBank National Association led the consortium of banks that participated in the deal to fund the company's data center construction. The syndicate consists of 17 institutions, including Bank of America, Deutsche Bank, and Regions Bank.